Selling your home? Hosting an open house is an efficient way to gather potential, interested buyers at a specific time. House hunting? An open house is one of the many excellent ways to check out properties in person.
A traditional open house is when sellers showcase or ‘open’ their homes for viewing to potential buyers at a scheduled time. It’s the standard procedure when listing a property on the market. It’s basically inviting interested homebuyers to tour a home that is for sale. Guests follow certain rules and sometimes are not allowed in some areas of the home.
However, the COVID-19 pandemic had placed restrictions on Houston’s lively and competitive open houses. And while there are virtual open houses and showings, open houses were suspended from March 20 and were reinstated on May 18, 2020.
Now that we are easing the restrictions and traditional open houses are coming back, let’s check what happens at an open house first, what to expect, and what are the advantages and disadvantages.
What happens at an open house?
Generally, you won’t likely meet the seller or the property owner. The listing agent will host the open house. The listing agent will represent the property and it’s up to you if you’d like to bring your buyer’s agent. If you’re nervous about going to one thinking you’ll go one-on-one with the listing agent, the presence of other interested homebuyers will somehow ease the pressure of not assessing the house properly. Also, you’ll have the opportunity to view the property and ask the right questions.
In an open house, don’t be surprised if you’ll be asked to fill in some sign-in sheets. The listing agent records the number of visitors as well as follow-up interested parties. You’ll have handouts with the description of the property so don’t hesitate to go around and take a good whiff. There will be a time when the agent will talk about the property, so be ready with your questions if you have any.
Advantages and Disadvantages of Holding an Open House
For sellers, an open house provides an opportunity to attract potential buyers which can potentially lead to an offer. If you remember the handouts and the questions to the listing agent, the feedback of the visitors will alert the realtor or listing agent to any issues related to them not liking the house. It could be as simple as not liking the paint color in one of the bedrooms or the non-availability of a certain feature. This will allow the listing agent to fix or do something about any negative feedback.
Advantages of Holding an Open House
- Show the house to as many people at once instead of one-by-one showings
- Attracts interested buyers.
- This may lead to an immediate offer.
- Additional exposure of the property.
- Allow homebuyers to tour the property without the pressure of a seller.
- Alerts the realtor or the listing agent to any issues with the property through the visitor feedback
Disadvantages of Holding an Open House
- Most property owners must leave their homes during all open houses
- More effort in organizing or staging the property than its worth.
- Attracting unqualified homebuyers, nosy neighbors, and lookie-loos (people who have no intention of buying but just want to see the property).
- Security issues like vandalism or break-ins can result in property damage or the possibility of theft.
- Online listings can reach more potential buyers in a shorter amount of time.
Do traditional open houses still work?
All that said, open houses are an effective way to bring potential homebuyers. While recent technology has helped homebuyers check homes virtually, going to an open house gives interested buyers a chance to see the home in person so you can actually see if this house fits your needs. There is nothing wrong with virtual tours, but virtual showings don’t show any flaws and won’t allow you to hear if the doors creak or the bathrooms smell.
don’t forget to enjoy the experience of being invited into someone else’s home for a bit. An open house can be a relaxed and enjoyable event — and if it happens to take place in a home that steals your heart, at first sight, it also can change your life.
If you have questions related to holding and attending an open, or if you’re looking for one, simply contact us to know what you’re looking for, so we can provide you will all the upcoming open houses in your chosen area.
About ApexPro Real Estate
ApexPro Real Estate Group is a full-service real estate brokerage specializing in single-family and attached residential properties throughout Houston and the surrounding areas. We are a privately-held small business that brings together top agents, cutting-edge technology, and unparalleled service to help clients throughout Houston to buy and sell real estate — and enjoy them every step along the way. Our client reviews show our dedication to helping our clients extends beyond the closing table and we would love to earn your business.